May 23, 2013

Australian miner shares fall by nine percent on fake release

An Australian mining company saw its shares plunge by as much as 9 percent following a fake press release by environmental campaigners.

The miner (Whitehaven Coal) saw over AUD$300m wiped from its market capitalisation and shares suspended from trading following the fake announcement.

According to the Telegraph, it is believed that the campaigners released the fake release regarding a multi-million dollar funding facility over fears for the Australian environment.

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